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Menlo Ventureshas raised $ 1.35 billion in new cap that it design to utilize in part “ to support the forthcoming multiplication of AI startups , ” the venture business firm announced today .
Notably and unsurprisingly , the business firm is today quite bullish on the future of unreal tidings , take down that it has already support the likes ofAbnormal , Anthropic , Cleanlab , Pinecone and Typeface .
“ Not every investment has to be an AI investment funds , but we trust that ’s where the most exciting innovation will spark , ” Menlo Ventures Partner Venky Ganesan state in an emailed statement . “ That said , we also think that , as AI becomes more sophisticated , we will progressively rely on AI - powered tools and services to make us faster , smart , and better at what we do . At that point , AI will misplace its knickknack and become an unsurprising , if not anticipate , collaborator throughout the day . Many of the companies that were already in the market with products and service that lacked AI features have moved quickly to layer in AI capability so that they can remain competitive and relevant in this new AI era . ”
With the new funds , the house aver it hasraised more than $ 3.8 billion across eight store groups and distributed $ 5.2 billion to its LP . The new chapiter willbe invest out of the 46 - yr - sure-enough business firm ’s flagship speculation investment company , Menlo XVI , which is focus on the seed to Series A leg ; Menlo Inflection III , which is focused on Series B and beyond ; and their affiliated funds .
In July of 2022 , the Bay Area firm , known for its early bets on companies like Uber and Warby Parker , told regulator that it hadsecured $ 761.4 million for its third “ especial opportunities ” store . Menlo closed on Fund XV , a $ 500 million rise , in October of 2020 . It currently has $ 5.6 billion under direction .
Over the years , Menlo has seen 80 portfolio companies exit , 15 of which went public . Those company include Getaround , Carbonite , Gilead , Roku and Rover .
The firm also says it made seed and early - stage investment funds in 24 unicorns across the initiative , consumer and healthcare sector , and see 65 of its portfolio company get acquired . Those acquired companies admit StrataCam ( bought by Cisco ) , Tenor ( assume by Google ) and PillPack ( acquire by Amazon ) , among others .
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Recent Menlo investment include leadingFinch ’s $ 40 million Series B raiseandSana Labs ’ $ 34 million rung . It also — as bring up above — participated in AI pet Anthropic ’s May$450 million acclivity .
Looking ahead , the firm said ina blog post : “ AI represent a seismal shift that will add one million million of buck in note value to the world thriftiness , and Menlo will help spell the next chapter . ” However , it intends to still indue in healthcare / digital wellness , consumer , cloud infrastructure , cybersecurity , fintech and SaaS inauguration as well .
Menlo is n’t the only speculation house bring up $ 1 billion - plus stock these days . In October , Greylock Partnersunveiled two new endeavors : a $ 1 billion early - degree investment firm — its seventeenth — and Greylock Edge , a programme to tolerate father evolve idea into company with early gross and product market fit .
